MOSCOW, November 26 (RIA Novosti) - Russia's national development bank Vnesheconombank (VEB) has so far invested 85 billion rubles ($3.1 billion) in the domestic stock market amid the ongoing global financial crisis, the VEB president said on Wednesday.
The Russian government has allocated 175 billion rubles ($6.5 billion) from the National Prosperity Fund to VEB to buy the stocks of leading Russian companies with strong credit ratings to shore up the liquidity of domestic businesses.
Vladimir Dmitriyev said VEB had so far received a total of 115 billion rubles ($4.2 billion) from the National Prosperity Fund for this purpose.
Dmitriyev earlier said Vnesheconombank would invest up to 5 billion rubles ($184.5 million) daily on the Russian stock market to ease the effects of the credit crunch.
